E-gold
e-gold was a product from e-gold Ltd. on the Caribbean island of Nevis operated payment system that completely outstanding (electronic) money in precious metals (which, according to the provider's gold , silver , platinum , palladium ) covered was.
In April 2007, e-gold Ltd, its operator Gold & Silver Reserve, Inc., and the founder and owner Dr. Douglas L. Jackson (with co-owners Reid A. Jackson and Barry K. Downey) charged with money laundering and unlicensed banking operations. In November 2008, the defendants who pleaded guilty were sentenced to low sentences.
In November 2009 the company ceased operations. In May 2013, some account holders were contacted by the E-Gold Claims Process Administrator in order to be able to register their rights. The time window for this was from June 3 to September 30, 2013. The procedure is called VAP CIP (Value Access Plan - Customer Identification Program).